PGG Wrightson (PGW) H2 2025 earnings summary

Executive summary

• Operating revenue reached $975.3 million, up 6% year-over-year, with operating EBITDA up 27% to $56.1 million and net profit after tax up 248% to $10.7 million.

• Improved performance was driven by strong livestock, real estate, and retail segments amid sector recovery and improved farmer sentiment.

• Strategic initiatives included the acquisition of Nexan Group and the implementation of the Microsoft D365 Enterprise reporting platform.

• Fully imputed final dividend of $0.04 per share declared, totaling $0.065 per share for the year.

Financial highlights

• Operating revenue increased by $59.4 million year-over-year to $975.3 million.

• Operating EBITDA rose by $12 million to $56.1 million, and net profit after tax increased by $7.6 million to $10.7 million.

• Cash flows from operating activities were $12.4 million, with capital expenditure of $17.4 million.

• GO-STOCK receivables grew by $28.9 million to $81.4 million.

Outlook and guidance

• Strong commodity prices and easing interest rates are expected to support continued sector growth in FY 2026, with further guidance to be provided at the Annual Shareholders' Meeting in October 2025.

• Confidence in rural real estate and export markets is expected to persist, though challenges remain in arable, viticulture, and strong wool sectors.

• Geopolitical tensions and increased tariffs, especially from the U.S., present ongoing uncertainties.